Nomad Foods (NYSE:NOMD) Price Target Lowered to $24.00 at Mizuho

Nomad Foods (NYSE:NOMD) had its price target reduced by Mizuho from $28.00 to $24.00 in a research report released on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th.

Nomad Foods Stock Down 0.4 %

Nomad Foods stock traded down $0.06 during mid-day trading on Wednesday, reaching $16.89. The company’s stock had a trading volume of 110,046 shares, compared to its average volume of 624,905. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.72 and a current ratio of 1.20. Nomad Foods has a 12 month low of $15.99 and a 12 month high of $20.05. The business’s 50 day simple moving average is $17.51 and its 200 day simple moving average is $17.87. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 12.70 and a beta of 0.78.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 3.55%. Nomad Foods’s dividend payout ratio is presently 45.11%.

Hedge Funds Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Nomad Foods by 8.3% in the second quarter. Renaissance Technologies LLC now owns 4,179,679 shares of the company’s stock valued at $68,881,000 after buying an additional 320,900 shares during the last quarter. River Road Asset Management LLC raised its stake in Nomad Foods by 2.9% in the 3rd quarter. River Road Asset Management LLC now owns 4,019,663 shares of the company’s stock valued at $76,615,000 after acquiring an additional 114,750 shares during the period. Victory Capital Management Inc. lifted its holdings in Nomad Foods by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,069,181 shares of the company’s stock valued at $39,439,000 after purchasing an additional 18,189 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Nomad Foods by 2.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,906,862 shares of the company’s stock valued at $36,345,000 after purchasing an additional 39,739 shares during the last quarter. Finally, Townsend & Associates Inc boosted its position in Nomad Foods by 3.6% during the third quarter. Townsend & Associates Inc now owns 1,539,731 shares of the company’s stock worth $26,976,000 after purchasing an additional 53,694 shares during the period. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.